Digital Signage Sales 101: Objection Handling Part 2 of 2

-Deacon Wardlow

OBJECTION HANDLING TECHNIQUES

Persuade your way through

Once you know the objection, you can work to overcome the hurdle by persuading the client the objection isn't as much of a hurdle as they think it may be. Demonstrate the value and benefits of the product/service which will get the client to that "a-ha!" moment where the objection doesn't look as big as they originally thought.

Concede your way through

Giving an inch doesn't mean they'll take a mile. If the objection is related to time, come back in a week or a month. If the client is serious, they'll be back at the table and if they aren't then you've saved both your time and theirs by concluding negotiations early. If the objection is cost, see if you can lower it or (even better) if there are leasing/financing options to make the cost more easy to handle over time.

Types of objection

There are a lot of objections to overcome, but here are a few of the biggest you're likely to encounter frequently.

Need

The product or service just isn't a good 'fit' for their business/organization.

Examples

What we have works fine for now.

We don't want one.

I think this just isn't necessary for us.

Approach

Have you identified the key problems the client is experiencing and are they something Digital Signage can help with? If you haven't identified the problem and you don't have a solution, it's difficult to prove the real need for the DS solution you're presenting.

Price

This is likely to be your biggest/most frequent objection.

Examples

Wow, I didn't realize they cost that much!?!

Our budget is closed this year, maybe in a few months...

I saw the same solution cheaper online.

You mean the services aren't included?

Approach

People are familiar with the prices of cars/trucks, houses, etc. These big ticket items don't scare them (usually) because they know what they're getting into from the start. DS isn't as straightforward and (like any business) there's always someone cheaper down the road. It's important to build the value in the product. Demonstrate both the ROI (Return On Investment) and the ROO (Return On Objective) with the use of a DS solution. Build the value and the price is no longer just a big number on a sheet but an investment which can be justified.

Time

The client either has a lengthy vetting process or they're just not ready to make the investment yet.

Examples

I need time to think about this.

The budget won't allow for this for three months.

Come back next year, we'll see where we're at then.

I need to talk to the boss about this.

Approach

Give the client the time they need. Trust the client isn't just giving you a brush-off and set time to come back to the conversation at a time which will be more suitable.

Source

Maybe the brand represented isn't strong in the market. The client may even dislike someone in your company or have issues with "something they heard/read."

Examples

I just don't know you or your company.

I read something online about how you guys are a ripoff.

How do I know your company will be here to provide the services and support in a 3 or 4 years?

Approach
Any sale is (ultimately) a relationship. Clients want to know they'll be taken care of now and down the line. There needs to be a sense of security and trust and this often takes time. The first meeting with a client should be about getting to know each other, find the problems and come back to the client later with some solutions. Rushing the process can often result in a push-back which is difficult to overcome.

Take the time to get to know the client you're speaking with on a personal and professional level. A few minutes of discussion about how the person you're speaking with came to be with the company they're at can reveal a lot about both the person and the company and goes a long way towards building a connection which fosters trust and respect. If the solution proposed is shown to solve a problem, the objections are more likely to be, "I want this, now how can we make this happen?" rather than, "Why would I ever want this?" The latter is overcome by qualifying the client/company and working to build the value, the first is overcome by addressing the issues and working to find answers. Salespeople are problem solvers (not just pencil sharpeners). Find the problem, create the solution and you'll see objections melt away like springtime snow...

*I invite you to comment here and/or email me directly with requests at deacon@vantageled.com. Vantage LED has white paper resources and more educational material on the website (http://www.vantageled.com), please check it out when you have a moment. Note all posts/thoughts/writings are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically

Digital Signage “Need To Know”: Professional Content is a Must!

Robert Smith III, was a young lawyer in his third year with a big law firm in Houston, Texas. Today had been on his calendar for months- a chance to play golf with the “old man”, the President of the company. Robert wanted to impress his boss and he had the time and the money to do so. His strategy was to buy the most expensive golf club set in the world- a Japanese brand HONMA “5-Star custom fitted set”.

Sure, they were made out of platinum and gold and Donald Trump and Jack Nicholson each owned a set. But Donald and Jack typically made their investment pay off by utilizing them with an ample amount of golfing skill!

Robert’s Honma clubs caught the attention of the President and so did his score of “65”. Unfortunately for Robert that “65” was on the front nine holes!

The moral of this totally fictional scenario is that sometimes people invest in a product, spend great amounts of money, buy the best and then sabotage and devalue the potential of their investment by failing to spend a just few more dollars to “put it to work”! In Robert's case, an extra $100 for a golf lesson might have helped.

In our world, not Tiger Woods' world, where do we see this? LED signs are sold by many sign companies by stating that “the investment will pay for itself by driving new business through the door”. Is this true?

It can be. But when they buy a $40,000, full-color, P-16 resolution (with virtual technology) LED sign and run content made at home using MS Paint they are doing a huge disservice to themselves!

On the other hand, when a business with a small LED sign uses professionally produced animation and content, they squeeze every nickel out of their investment. This is a perfect contrast- one business unaware just how important content is turns a $40,000 investment into a $10,000 “flashing reader board”; while an astute business transforms their smallish $10,000 LED sign into an attention-getting, brand-building, digital marketing center.

How many small LED signs in your community “pop” visually with correct color choices, animation, proper text size, short ads and proper slide timing? Perhaps you have many! Okay, now, how many larger LED signs look terrible? Wrong color choices, slide timing wrong, too bright at night… and you name it! Many LED sign owners will not make an additional investment in professionally produced content. 

What does a graphic designer worry about? I’m not a graphic designer. I thought it was one of my many self-proclaimed fortes’ before I met a real graphic designer. Then I immediately decided that my design skills were similar to the first caveman with the first chisel on the first rock. But here are a few compelling reasons that very few amateurs “get right”:

• Color- A dark blue background with a bright yellow foreground does not make the display “pop”.  Also, many amateur designers confuse light coloration with paint coloration. There is a difference as one uses an additive approach while the other employs a subtractive approach to achieving a color mixture. Here is a color theory link COLOR

• Rule of thirds: Many designers just do this. They don’t think about it, and it comes naturally. But the canvas (physical or electronic) is divided into 9 equal squares- 3 rows of 3 squares. Using this rule directs the eye to the center point of attention. Take a look at this link for an easy explanation THIRDS

• Technical design using popular software packages is a bottomless pit of learning, massaging and mastering the rules. I’ve used Adobe Photoshop for years, and still have not scratched the surface on the capability and complexity of this package. There are 4-year degrees offered on this software package and it truly has the capability of creating wonderful visual products. Just owning and using  the Adobe Photoshop software package does not guarantee an effective slide for the LED sign however. Using it as a tool, with learned skill, not unlike a paintbrush in the hands of a talented artist is the key here.

I’ve listed a few realities of producing your own content. At the end of the day, doing in-house content is expensive, time consuming and just not worth it to maximize the performance of an LED Sign for most small business owners.

Don’t let your customer run poor content on your watch! As a LED sign expert you can significantly influence the success of your customer’s LED sign marketing program. Discuss this early with the customer and let them know that even the best set of golf clubs won’t create a winning return on investment (ROI) scenario without being used correctly. For an LED sign, that means spending a proverbial extra nickel to harness the advertising power of their LED sign investment.

In an ever-expanding LED sign industry there are extremely cost-effective options available  for businesses to put their LED sign to work with professionally produced content. Put the "Googler" to work to learn more!

Consider attending the ISA  Sign Expo in Las Vegas next week, April 4^th, 5^th and 6^th to learn of exciting new content options coming to the LED sign industry. Here is the ISA link to learn more ISA EXPO 2013

I’ll see you there!

These comments belong to me, Mike Prongue, and do not reflect the views, opinions, hopes or dreams of anyone else, anywhere else and this includes Vantage LED. I appreciate your constructive opinion which may be sent to me at michael@vantageled.com. 

Digital Signage Sales 101: Objection Handling Part 1 of 2

- Deacon Wardlow

Sales is a roller-coaster. The inevitable ebb and flow of opportunities which fade as quickly as they appear, sales which close and those which don’t are going to happen regardless. The best we can do is make sure we have as many tools as possible and make the best use of them as the situation allows. 

We discussed overcoming the Sticker Shock Syndrome in a previous blog (click here to read the article). I’ve discussed Customer Centered Sales (here). Mike Prongue has discussed closing techniques (Part 1, Part 2, Part 3). What do you do to overcome objections (or even figure what the objections are)? Here comes another fun acronym. LACE.

L.A.C.E

With Digital Signage (DS), one would think it’s often an “easy” sale. DS offers a way to communicate better with customers and the community. ROIs (Return On Investment) can be proven as well as ROO (Return On Objective). Why would anyone object to something which will help their business or community? Objections are opportunities. They are the potential client testing the waters to see what you can come up with and if your product/solution meets their needs. By taking the time to vet objections, we are given a great opportunity to not only learn more about the client, but about ourselves, our business and our product/service.

Listen

Listening helps to not only understand the objection, but the emotion and reasoning behind it. If you’re talking more than the person you’re with, you need to ask more probing questions to get to the main point.

-Find the objection

When someone is objecting, it’s important to listen to more than the words they’re saying. Read between the lines and find out ‘what else’ they’re objecting to. ‘How come’ the objection is there and what do they see as hurdles to overcoming the issue at hand?

-Find remaining objections

Just when you think you’ve overcome the objections, dig deeper. There may be more being left unsaid and it’s best to get it in the open. Ask, “are there any other objections?” Once all the objections are out in the open, you’re that much closer to the close.

Accept

It’s important to not only acknowledge the objection(s), but the person making the objection(s).

-Accept the person

Here it’s time for show and tell. Objecting can be a difficult for many. People have been trained throughout their lives to help and be kind/considerate. Surprising as it may be, the person on the other side of the table/phone doesn’t want you to feel rejected or create negative feelings. By accepting the person, you build both their trust and their sense of identity with you. You also set up a exchange dynamic where they feel a sense of obligation to repay your acceptance.

-Accept the objection

Accepting the objection means understanding how it is reasonable, at least from their current viewpoint for them to object to what you may believe is an excellent offer.

It also means accepting the work that addressing the objection will require of you. Objections can be frustrating and if you object to the objection, you will have a mutual stalemate.

Commit

With the increased trust you’ve created by listening to the person and being open to discussing any objections they have, you’ve created an opportunity to test the waters on closing.

-Get their commitment

Get a commitment from them; if you can satisfactorily address their objections, they will give your product/service a chance. This is also a good method of identifying further objections. If they say no, then loop back and elicit whatever is holding the potential client back. Eventually, they will run out of objections.

-Make your commitment

In order to receive, you have to give. There’s a balance to the conversation which must be maintained. This doesn’t mean crazy “favors” or special pricing, simply your word to work with the client/company until they are completely satisfied you’ve delivered the best solution for their problem(s).

Explicit action

Now it is time to address the objections, to take explicit action on the commitments made.

There are two types of objection: real ones and accidental ones. Accidental objections are where the objection is due to a misunderstanding. Misunderstandings are usually easy to address, with an apology and an explanation. Real objections take work, but if they can be resolved, you've got the sale!

This is the theory behind the practice. In the next blog, I’ll cite specific techniques and examples to help overcoming objections. At the end of the day, we are solutions specialists. Problem solvers. Sales isn’t as much about pushing a product or service as much as it is about making a solid connection with another person and finding an answer to a question they may not even know they had until they met you. Find the problem, offer the solution and the sales will follow.

*I invite you to comment here and/or email me directly with requests at deacon@vantageled.com. Vantage LED has white paper resources and more educational material on the website (http://www.vantageled.com), please check it out when you have a moment. Note all posts/thoughts/writings are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically stated.

LED Sign Tech & Spec: Real World Effects of LEDs per Pixel on Outdoor Digital Signage

-Scott Hofheins

An image on a full color LED sign consists of thousands of individual pixels. Each pixel consists of individual Red, Green and Blue LEDs; the three primary colors for light. Why three? Because the human eye has three types of color receptors. Technically you could mix other colors, but Red Green and Blue provide the widest range of colors to our eyes in the most efficient manner. If this is the case, then why do some manufacturers use more than three LED’s per pixel?

There a many reasons, some technical, others theoretical, and some are driven by marketing needs. In my experience adding a 4th, 5th, or 6th LED to the pixels does not have a large effect on the actual end-user experience.

Color Space

Technically, you can increase the view-able color range by adding an extra LED like Yellow (you may have seen this advertised in the LED TV market). However, any real visible effect this would have on an LED sign would be minimal.  It also requires a bit more power to drive the thousands of extra LED’s.

Brightness

Most four LED configurations add an extra Red LED to the pixel. This is sometimes marketed as a way to increase the brightness of the LED sign. It doesn't quite work that way, because you cannot drive each of the Red LEDs at the same level. If you did, the sign would be brighter....but also tinted Red.

Clarity

Some use a four LED pixel configuration because they are not able to provide Virtual Pixel technology without it. This has only added to the somewhat jaded view many have of Virtual Pixels and if they really make a difference or not (Deacon had a great post on VP here). Generally speaking, you don’t want to add unneeded components to an LED sign to produce a technology like Virtual Pixels that can be done without them.

The fact is there is nothing inherently wrong with 4+ LED pixel configurations, but the benefits they provide are not as large as some may claim and the electrical trade off’s are not always great. As I mentioned before, it’s really about the end-user experience and what they will actually get from the technology.

The human eye can physically see a massive number of light wavelengths, but we do not perceive these in exacting measure. Our brain gives us just the right amount of data that we can handle. In my opinion there are far more important items to clarify with a potential sign supplier than the number of LEDs per pixel...this blog is packed full of them!

-SH

I hope this post has been informative and helpful. As usual, I welcome ALL constructive comments. Please feel free to comment and add anything I’ve missed, or additional tips you may have regarding this topic. Please visit www.vantageled.com for many other resources, white papers, and of course: Great looking LED Signs!

**All posts/thoughts/writings are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically stated.

LED Sign Sales- Closing Technique Suggestions- 3 of 3

This is the final of 3 installment posts where I share with you suggestions on how to close an LED sign sale. So far, over the past couple weeks I’ve suggested 6 closing techniques and today I will meet my stated obligation of providing 3 more. Never being one to under-deliver I’ve upped the ante’ today with a 4^th suggestion to provide a nice round number of 10 total!

From these 10, pick a couple and practice them. If you don't care to use these suggestions just search online on "closing technique" to see dozens of others available to you! Continue to practice and look for new ways to influence others and share your ideas.

If you stop and think about exactly how involved an LED sign sale is, it’ll blow your mind. Perhaps we shouldn’t do it, but here goes:

•  A business opens through someone presumably having a skill or some product that they want to sell. Seed money is provided for start-up, a facility is acquired, licenses and legalities are muddled through and viola, a new member of the business community appears.
• Talent is required so associates are recruited.
• Competition is fierce so a solutions-oriented advertising method is required.
• You, the sign dealer is called. Also perhaps some of your competition.
• Sign options are discussed- sizes, colors, communication, functions.
•  Pricing is negotiated and terms are finalized.
• The LED sign contract is inked and the product ordered.
• Permits are obtained.
• The LED sign is built, shipped and received within the stated time.
• The LED sign is installed, tested, while the customer is trained. And the sales cycle is complete.

It is truly incredible and this example above has been “dumbed-down” considerably. But somewhere around number 6 or 7 above, the actual close comes into play. This is the “great meeting of the minds” where the wallet comes out and the marriage actually occurs. Perhaps these 4 suggestions will help deliver the LED sign sale to your company:

7. Harmony Close

Be empathetic. Try it, feel how they feel and spend a day in their world. Understand their situation and relate to it.

They will start to empathize with you and suddenly you are on their team!

Talk about the situation using “us” instead of “you”.

Become a match-maker by providing your excellent product to a most worthy customer.

Two examples:

I get it, I really do and it makes a lot of sense for us to buy this LED sign today with this financing plan.

You know what? This solution will work great for us!

This close works by relating to them. When you feel what they feel it’s likely they’ll come along with your ideas. Wait for the right moment and try “sharing the love” and that is why this close is also called the “Love Close”.

8. Opportunity Cost Close

Demonstrate the cost of not buying the LED sign and show them the actual out-of-pocket cost is not as high as it appears from the price.

To do this use the word: 'cost' in an expanded sense: hassle cost, customer cost, service cost, missed opportunity cost, time cost.

Two examples:

If you keep your existing static signs and the radio advertisement program what will be the costs? You have the high cost of radio ads that you can’t instantly update and you still have the faded sign. The cost of not changing your ad program up looks much higher than getting on board with an LED sign.

This LED sign really highlights your business and puts you on leading edge here on Main Street. Think of the other businesses with their old reader boards and how they must feel seeing your LED sign.

Every choice has some cost associated with it. In finance, business, advertising the frequently used phrase is “opportunity cost” for not taking action.

Make the word ‘cost’ your friend. It’s not just ‘cost’ as in money!

9. Specifications Close

Make a list of their stated specifications and requirements. Then promise to deliver each of these, item by item to close the sale.

Keep the document and revisit it. Amend it as required throughout the negotiation process.

Two examples:

Let’s talk about all your specifications! If we can find a way deliver this, it'll be ideal, won't it?

I’ve made a list of what you stated your LED project required. Let me show you how we can deliver this and more.

Make the conversation an open conversation but write down what they say as it helps define the document as being more formal rather than just verbal wanderings.

10. Trial Close

A Trial Close is a test to see if the person is ready to complete the sale. It really isn’t a closing technique in itself.

Try it after a presentation or after you’ve made a strong point or use it when you have answered objections. 

Pose the Trial Close as a tentative question.

Ask 'If...' questions that assume they’ve already purchased the LED sign.

After asking the Trial Close question be quiet, watch and listen carefully for their response.

'ABC' means “Always Be Closing” but you must be cautious because ABC can become annoying if they are nowhere near ready to buy!

Three examples:

You seem very interested in my proposal. Is that true?
Have you decided on full color or grayscale?
How would it look installed where the reader board is?

The Trial Close works by putting the idea of closure onto the table and  person's response will tell you how close they are to buying your great LED sign project!

These comments belong to me, Mike Prongue, and do not reflect the views, opinions, hopes or dreams of anyone else, anywhere else and this includes Vantage LED. I appreciate your constructive opinion which may be sent to me at michael@vantageled.com.